On 3 September, the Association of Black Securities and Investment Professionals (ABSIP), in partnership with ABSA, hosted an entrepreneurship workshop at the University of Pretoria (UP). The initiative was designed to equip students with practical business skills and prepare them for the highly-anticipated grand finale pitch event scheduled for 26 September.
The session featured leading industry professionals such as Siphiwe Hlatswayo (SME Banker, Tshwane Region), Keletso Sebolai (Enterprise Specialist at ABSA), Mandilakhe Nontenja (Integrated Specialist at Sasol), and Malesela Lekota (Head of Stakeholder Relations). Their expertise guided participants through crucial topics such as business formalisation, funding, tax compliance, and pitching strategies.
Nontenja stressed the importance of compliance, particularly with the South African Revenue Service (SARS). He explained that registering a business not only ensures sustainability, but also prevents entrepreneurs from paying the higher 45% personal tax rate. His insights opened the floor for an engaging discussion on declarations and managing business obligations effectively.
Enterprise specialist Sebolai highlighted ABSA’s commitment to student entrepreneurs through its developmental pillars, which go beyond finance. “The first one is access to non-financial support, covering the skills gap,” she explained. She emphasised key areas like access to markets, funding, and skills development. She urged participants to master their financial literacy, saying, “You should know your business, know your numbers. Be comfortable with your cash flow and working capital.” She also reminded students that their business pitch must reflect solutions, benefits, and clear value propositions.
In conversation with PDBY, Mahlatse Rapholo, a Bachelor of Theology student, reflected on his experience. “The purpose of the workshop was information sharing, allowing one to be enriched with knowledge and rethink what we thought we knew about the business world. My biggest takeaway was the matter of tax awareness and compliance.” Rapholo, who is in the process of registering his logistics company, said the event also opened networking opportunities. “The business world requires one to get out of their comfort zone and approach people, which is what I did. No opportunity is given to a person in my opinion, you just need to stand and grab it yourself.”
PDBY spoke to Mduduzi Malobola, ABSIP UP’s Entrepreneurship Director, who noted that this workshop was different from the others. “The goal was to assist UP student entrepreneurs in facilitating the sustainable growth of their businesses and prepare them for potential funding opportunities. Unlike other initiatives that chase recognition, ours is about empowering entrepreneurs to become independent,” he said. Malobola further highlighted ABSA’s role in exposing students to the importance of tax compliance and business account options.
He also revealed exciting details about the upcoming ABSIP UP startUP Challenge. “This is where students will pitch their business ideas to a panel of judges. The jury will evaluate based on impact, feasibility, innovation, and longevity. The platinum winner will be crowned ABSIP UP Entrepreneur of the Year,” Malobola shared. Students who attended the workshop automatically qualify for the competition, with further entries to be announced via ABSIP’s social media platforms.
Reflecting on his own experience, Malobola added: “My biggest takeaways were teamwork and generosity. ABSIP purchased 20 domains and email hosting packages to give away to student entrepreneurs whose businesses are registered and actively participating. This was not just about me, but about assisting entrepreneurs to grow beyond what they think they could.”
With 47 of the 50 exclusively-invited student entrepreneurs in attendance, the workshop was deemed a resounding success. As the countdown to the pitch finale continues, ABSIP UP has positioned itself as a driving force in empowering students to take bold steps into the world of entrepreneurship. And with the startUP Challenge on the horizon, the real test begins: will these future entrepreneurs rise to the occasion and turn ideas into impact?
